Beware the Flexible Spending Account Deadline! Be Sure to Use Remaining 2015 FSA Funds
Do you have a Flexible Spending Account (FSA) or a Health Savings Account (HSA)? If so, you may be able to use funds from your plan for treatments such as LASIK, PRK, or other procedures designed to improve nearsightedness, farsightedness, and astigmatism. With that in mind, remember that previous-year funds in many types of these accounts – particularly FSAs – have to be utilized by the end of the first quarter of the following year.
Depending on your specific FSA plan, you may have an extended grace period of time to spend unused funds from 2015 through the middle of March 2016. Other types of FSA plans instead of allowing a grace period, may allow you to roll over up to $500 of unused funds to your 2016 FSA balance. Regardless of which type of FSA plan you have, there is still time to consider refractive eye surgery by scheduling a free consultation with The Eye Institute of Utah. One of our experienced eye doctors will conduct a thorough refractive eye exam and determine if you are a good candidate for treatment. If you are a candidate, you will just need to check with your FSA or HAS administrator to see how any funds in your account can be used for the procedure.
Remember, most FSA plans have “use it or lose it” guidelines, so be sure to look over your options before the March expiration date. We will be happy to answer any questions you may have and help you schedule a consultation here at The Eye Institute of Utah.